The Fair Debt Collection Practices Act is the federal law that had been framed to shield the debtors and consumers from unfair debt collectors and their harassments. The FDCPA in alliance with the Illinois Collection Agency Act (ICAA) and the Illinois Consumer Fraud and Deceptive Practices Act, ensures that the debt collectors stay in their limits and treat you fairly during the collection process.
The FDCPA and the ICCA is applicable only to the third party debt collectors and debt collection companies and doesn’t cover the original creditors. The limitations on the collection methods which protects the consumers are enlisted below:
The Illinois Collection Agency Act or the ICAA requires that debt collectors should have their license to continue with the collection practices in the state. The ICCA imposes the restrictions on the debt collectors as they establish contact with the debtors and as they continue with their collection practices. It also specifies what the debtors can do if they want to validate or dispute the debt. The ICAA also upholds specific regulations on debt collection practices for the child support debts.
Last Updated on: Thu, 12 May 2016